It is reported that 80% of UK companies are planning to hire a data scientist or seek data consultancy in 2019 with the demand for these professionals having tripled over the past 5 years. Between July 2017 and June 2018, over 27,000 job adverts seeking data specialist skills were posted by British employers: a total increase in demand of 231% in 5 years.
What are the right expertise?
Data science is a broad catchall title with data scientists of all types in high demand. The role requires analysis of complex data and the ability to visualise data in a way that tells a story so that businesses can make decisions and forecast the future of the business. Data Specialists must “ensure that data is assimilated and analysed, then delivered as actionable insights.”
Karl Hoods, chief digital and information officer at the Department for Business, Energy and Industrial Strategy, explains that as organisations have increasingly realised the importance and value of data, their need for the right expertise has also increased.
The future data scientist will tackle the most business-critical and complex challenges that will help their businesses make revolutionary leaps forward. “In trying to make sense of the vast amount of data gathered on a daily basis and use it to solve business problems, spot trends and make decisions to support new ideas, we need people with a mix of statistics, databases, data visualisation, machine-learning, coding and data preparation skills,” he says.
Why do businesses require specialised skill-sets?
1. Companies struggle to manage their data
According to research carried out by Gemalto, 65% of businesses polled said they couldn’t analyse or categorise all data they had sorted and 89% knew if they could analyse properly they would have a competitive edge.
2. New Data Privacy Regulations
GDPR increased the importance of storing data responsibly and businesses must adhere to the regulations or risk being reprimanded.
3. Data Science is still evolving
Opportunities are growing and getting more diverse. With the continual development of technology and businesses needing to maximise how they use data, data scientists are required to analyse their data.
4. Data Scientists have in-demand skills
Research has shown there is a 94% success rate of employment for Data Science graduates when leaving study.
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